Australia's NoviqTech hits three-month high on expansion into carbon removal

Noviqtech

28/01/2026 02:18

** Shares of Australia's NoviqTech NVQ.AX  rise 26.1% to A$0.029, their highest point since October 24

** Stock rose as much as 30.4% earlier, marks its biggest intraday pct jump since September 19

** The carbon emissions tracker enters a binding agreement to buy Coralia Pty, which is a biochar carbon dioxide removal company focused on mitigating carbon emissions by datacentres and AI hyperscalers

** Under deal, co will buy initially buy 90% of Coralia's shares, with the agreement being conditioned on co raising A$1 million ($698,600.00) in equity

** Co also said it has received commitments to raise around A$1.5 mln at A$0.02 per share, a 13% discount to stock's last close

** Shares up 38.1% so far in January

($1 = 1.4314 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))